did someone get their business sba financing approved?

[boston09]

i keep coming acroos listings fpr pizza shops that sell for id estimate 35% more asking price just because they are "sba financing approved" which means potens=cial candidate with good credit score could buy it with only 10% down... so id say for someone looking to sell getting sba approval would help him sell for more... have anyone done it and can share the process?

 

[juanwitmore]

I’ve seen the same thing with SBA approved businesses, having that backing can definitely increase the asking price because it makes it easier for buyers to secure financing. I haven’t personally gone through the process, but from what I’ve gathered, getting SBA approval can be a bit of a hassle.

You’ll need to have your financials in order, a solid business plan and a good credit score. The lender usually looks at things like revenue, your experience and the stability of the business. It can take time but it could be worth it if you’re looking to sell for a higher price.

If you’re selling, it might be a good idea to work with an SBA approved lender or business broker to guide you through the process.

 

[RonnieStraley]

Getting SBA pre-approval typically involves a few steps. First, you'll need to ensure your business is financially sound and has detailed records (profit and loss statements, balance sheets, tax returns, etc.) to prove consistent performance. A key part of the process is the lender’s appraisal of your business to determine its value. This often includes analyzing the cash flow and whether it’s sufficient to cover the loan payments.